Raleigh, N.C.—Federal Capital Partners and Kane Realty Corporation announced a joint venture to develop approximately 400 luxury apartments on 15 acres in the affluent North Hills area of Raleigh, N.C. The venture will begin construction in the third quarter of 2012.

The Ramblewood Apartments at North Hills will offer luxury living along quiet, tree-lined streets. Located in Raleigh’s “mid-town” at North Hills, the apartments will combine rental living with condo-grade finishes and amenities. The central manor building will provide residents with a pool, a fitness center, business center, outdoor terrace, community room and green spaces. Individual units, each of which will have a balcony, will feature granite or stone countertops, stainless steel appliances, washers and dryers and ceramic-tiled bathrooms.